Technical Observation

ETH is currently trading with an increasing bearish momentum. Yesterday, ETH decline significantly and even went below $669.92. This is a key line and while the price is below it, I expect further momentum to the lowerside. However, instead of going short immediately, I'm waiting for a second breach below $507.55 to confirm a possible rally towards $244.30. On its way to the lower side, the key lines to look for include $507.55, $244.30, and $111.70. If these lines can safely be broken to the lowerside, then a surge to somewhere around $50.00 is expected.

Trade Signal.

Wait for a break below $507.55 to confirm a sell position towards $244.00